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a brokerage can borrow cash internally from another part of the firm. in washington, in the summer of 2011, regulators at the commodity futures trading commission, the cftc, were debating whether to ban internal repo transactions. >> the cftc was potentially going to say, "no more doing internal repo." and for a lot of companies, it was an important way to finance certain operational needs. corzine, you know, got wind of this, so he begins to lobby in washington. >> senator corzine was one of the more prominent individuals who came in and told us what a drastic mistake it would be to curtail the use of these internal repurchasing agreements and thatathey were dng everything appropriate with regard to these internal repos, and that we shouldn't worry about them and we shouldn't touch them. >> narrator: corzine visited the cftc and met with commissioners on three different occasions. >> he's an impressive man, and he made a good case, and when he told me that we were making a big mistake, it certainly put some doubt into my mind for a little bit there as to whether or not we were going down
Search Results 0 to 1 of about 2 (some duplicates have been removed)